Concurrent Investment Advisors LLC Buys New Position in Blue Bird Corporation (NASDAQ:BLBD)

Concurrent Investment Advisors LLC purchased a new position in shares of Blue Bird Corporation (NASDAQ:BLBD - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,538 shares of the company's stock, valued at approximately $276,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its holdings in Blue Bird by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 1,000 shares of the company's stock worth $39,000 after buying an additional 500 shares during the period. Quarry LP raised its holdings in Blue Bird by 55.0% during the 4th quarter. Quarry LP now owns 1,262 shares of the company's stock worth $49,000 after buying an additional 448 shares during the period. NewEdge Advisors LLC raised its holdings in Blue Bird by 44.1% during the 4th quarter. NewEdge Advisors LLC now owns 2,204 shares of the company's stock worth $85,000 after buying an additional 674 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Blue Bird during the 4th quarter worth approximately $87,000. Finally, GAMMA Investing LLC raised its holdings in Blue Bird by 5,165.3% during the 1st quarter. GAMMA Investing LLC now owns 3,949 shares of the company's stock worth $122,000 after buying an additional 3,874 shares during the period. Institutional investors own 93.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BLBD shares. DA Davidson decreased their target price on shares of Blue Bird from $67.00 to $61.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and set a $49.00 target price on shares of Blue Bird in a report on Tuesday, May 27th. Wall Street Zen downgraded Blue Bird from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Barclays dropped their target price on Blue Bird from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.79.

Insider Activity

In other Blue Bird news, Director Phil Horlock sold 13,289 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $41.70, for a total value of $554,151.30. Following the completion of the transaction, the director owned 270,766 shares in the company, valued at $11,290,942.20. This trade represents a 4.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Razvan Radulescu sold 10,000 shares of Blue Bird stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $45.19, for a total value of $451,900.00. Following the sale, the chief financial officer owned 58,203 shares of the company's stock, valued at approximately $2,630,193.57. This trade represents a 14.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,149 shares of company stock valued at $1,369,666. 1.10% of the stock is currently owned by insiders.

Blue Bird Stock Down 1.0%

Shares of NASDAQ:BLBD traded down $0.41 during trading on Tuesday, reaching $42.87. 279,257 shares of the stock were exchanged, compared to its average volume of 614,502. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 0.73. Blue Bird Corporation has a 1-year low of $30.04 and a 1-year high of $55.60. The stock has a fifty day moving average of $41.34 and a two-hundred day moving average of $37.89. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Blue Bird (NASDAQ:BLBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $358.85 million during the quarter, compared to analyst estimates of $348.23 million. Blue Bird had a return on equity of 64.83% and a net margin of 7.97%. Blue Bird's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. Research analysts anticipate that Blue Bird Corporation will post 3.86 earnings per share for the current fiscal year.

About Blue Bird

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.